[1]Annualized auto sales spiked their most MoM in almost 3 years reaching their highest level since May 2007 and beating expectations by the most since cash-for-clunkers in 2009. Inventories are at record highs [3], GM channels are almost the most-stuffed on record [4], and incentives are surging once again [5]... the "field of dreams" economy rolls on... what could possibly go wrong?
[6]
Mal-investment anyone?
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Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/9113
[3] http://www.zerohedge.com/news/2013-12-02/auto-makers-channel-stuffing-highest-2005
[4] http://www.zerohedge.com/news/2013-12-03/gm-channel-stuffing-surges-second-highest-ever
[5] http://www.businessweek.com/articles/2013-12-03/u-dot-s-dot-automakers-lean-on-incentives-to-boost-sales
[6] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131203_icar.jpg